BRUSSELS Cushman & Wakefield Global Cities Retail Guide - Cushman & Wakefield
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BRUSSELS
Cushman & Wakefield
Global Cities Retail Guide
Cushman & Wakefield | Brussels | 2019 0
Brussels is undisputedly one of the major
political capitals in the world and
regarded as the most important political
centre in Europe. The European Union
(EU), the North Atlantic Treaty
Organization (NATO) and more than
1,000 international associations are
based in Brussels. Its multilingual
hospitality, safe environment and high
quality of living make it an appealing
destination. Belgium’s central location
means all of Europe is within a three-hour
flight, and its growth prospects and
rapidly changing demographics
contribute to a diversity and dynamism
that makes Brussels a global city.
In comparison to other major cities, Brussels remains one
of the most affordable property markets in Western
Europe. In addition to the fact it hosts major international
institutions, Belgium presents a wide variety of cultural
assets, Brussels being, with Bruges, a must-see tourism
destination.
The Brussels retail market is typically split into two areas:
Uptown Brussels (Toison d’Or, Chaussée d’Ixelles,
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Louise), and Downtown Brussels (Rue Neuve, the most
expensive location in Brussels). Brussels is also known for
Zaventem-Nossegem, one of the largest out-of-town retail
OVERVIEW
concentrations in Belgium, and the W Shopping Woluwe,
which is the most expensive shopping centre location in
the country. Brussels also features a noticeably high
percentage of international retailers: 25%, compared to
the European average of 15%.
Cushman & Wakefield | Brussels | 2019 1
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KEY RETAIL STREETS & AREAS
DOWNTOWN UPTOWN
Downtown Brussels is the commercial area that attracts The Uptown area of Brussels is more diversified, featuring
most of the mass-market shoppers. With its anchor a particularly popular area:
street, the Rue Neuve, and the in-town City 2 shopping
• Chaussée d’Ixelle, a pedestrian shopping street with
centre (completely refurbished in 2019), the area offers
mass-market brands
a broad range of mass-market stores. Additionally, a
brand new pedestrian area has been created, with new • Avenue Louise & Avenue de la Toison d’Or, with its
developments along the so-called “Boulevards du mid to upscale high street stores (Max Mara, Michael
Centre” (Anspach, Lemonnier). The Rue Neuve has Kors, Pinko), and flagship stores of Apple, Zara,
always been one of the best retail locations in Belgium, Massimo Dutti.
attracting a high number of visitors. The combination of
• Boulevard de Waterloo is the luxury market area.
the Rue Neuve and the City 2 reinforce Downtown
Brussels’ position as s a top retail location within the Uptown Brussels has approximately 1,500 retail units.
city, with brands including Primark, Uniqlo, H&M, Zara,
and JD Sports. The Mint shopping centre (c.15,000 sq
m) on Place de la Monnaie has strengthened the
existing link with the Rue des Fripiers area.
Cushman & Wakefield | Brussels | 2019 2
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MARKET OVERVIEW
KEY AREAS/ CONSUMER PROFILE MAJOR RETAILERS NEW ENTRANTS TYPICAL RENT RANGE OF UNIT
STREETS/ PRESENT FOR 200 SQM UNIT SIZES
SHOPPING CENTRES (SQM/ YEAR)
Primark, H&M, Zara, New
Tourists, local and regional
Rue Neuve Look, Mango, C&A, JD Pandora, Chaussea €1,500 – €1,900 50 – 5,000 sqm
shoppers
Sports, Snipes, etc.
H&M, Zara, Mango, Primark, Burger King, Holland &
Chaussée d’Ixelles Local shoppers €900 - €1200 50 – 4,000 sqm
Bershka, Camaïeu, etc. Barrett
Apple, & Other Stories,
Arket, Massimo Dutti,
Tourists, local and regional
Avenue de la Toison d’Or Tommy Hilfiger, Hema, Leonidas, Pandora, Proximus €1,500 - €1,800 50 – 4,000 sqm
shoppers
Fnac, AS Adventure,
Superdry, etc.
Hugo Boss, COS,
Tourists, local and regional Longchamps, Michael Majestic Filatures, Guerlain,
Avenue Louise €1,500 - €1,800 50 – 1,000 sqm
shoppers Kors, Twin Set, Sœur, Monki, Miele, Cyrillus
Nespresso, etc.
Louis Vuitton, Cartier,
Tourists, local and regional Gucci, Giorgio Armani, Golden Goose, Isabelle Marant,
Boulevard de Waterloo €1,500 - €1,850 50 – 600 sqm
shoppers Todd’s, Chanel, Dior, Pomellato
Hermès, Prada, etc.
Cushman & Wakefield | Brussels | 2019 3
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SHOPPING CENTRES
W SHOPPING WOLUWE DOCKS BRUXSEL
Prime traditional shopping centre of Brussels that opened The 45,000 sqm Docks Bruxsel shopping centre, which
in 1968 and got an extension in 1989 to 43,000 sqm. The innovates through its inspiring architecture, opened in
last renovation was in 2004. It is perfectly located within 2016. It has a mix of retail, food court, offices, parking,
the suburbs on the eastern side of Brussels which is cinema, leisure and an events venue. Anchor tenants
definitely the richest area of the city. It captures some 7 include Zara, H&M, JBC, Michael Kors, Superdry,
million visitors per year with anchor stores like Inno Maisons du Monde, Media Markt, Mango, Match,
Galeria, H&M, C&A and Zara. It was acquired by Massimo Dutti, Bershka, Pull&Bear and Zara Home. It
Eurocommercial Properties at the beginning of 2018 who captured some 5 million visitors in its first year after the
plan to refurbish and extend the centre. opening.
WESTLAND SHOPPING CENTRE CITY 2
Westland is the other traditional shopping centre of The City 2 shopping centre is one of the largest shopping
Brussels. With some 38,000 sqm, it captures about 7 centers in Belgium with a total area of of 51,000 sqm and
million visitors each year. It opened in 1972, was an annual footfall of more than 13 million. It is situated in
extended in 1989 and renovated in 2000. New major the inner city of Brussels, at the entrance of the Rue
renovation works and an extension of 12,000 sqm are Neuve and in the middle of a rapidly-evolving environment
ongoing and are planned to be completed by 2020. due to transform further in coming years (> 20 projects in
Anchor stores include C&A, Kiabi, Zara, Delhaize, H&M the immediate surroundings).
and New Look.
The centre offers a connection to the Inno as well as to
the metro station of Rogier. Renovation works began in
2017 and will end in June 2019 with the opening of a
brand new Food Court that will undergo a complete
metamorphosis both in terms of design and content.
Anchor tenants curently include Fnac, Zara, Massimo
Dutti, Sports Direct, Carrefour and Five Guys.
Cushman & Wakefield | Brussels | 2019 4
DEVELOPMENT TO WATCH OUT FOR
MALL OF EUROPE
Total Size (sqm) 80,000
Planned Opening Date 2022
ABOUT THE DEVELOPMENT
Project initiated by City of Brussels to redevelop the
Heysel plateau area. The developer is Unibail Rodamco
/ Besix.
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NEW DEVELOPMENT
WATCH
Cushman & Wakefield | Brussels | 2019 5
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FOOD & BEVERAGE
Having become a cosmopolitan city, It should be noted however that Belgium and Brussels are
not easily penetrated by international restaurant chains,
Brussels offers a very wide range of
with the exception of McDonalds and Burger King that
dining possibilities compared to its took over and the local Quick brand in the burger market.
relatively small market size. It is only recently that Starbucks and Subway have
opened in the city. Many other strong brands are
All the famous Belgian specialties are omnipresent in
considering Belgium and Brussels to open franchises
brussels: mussels, fries, beer and of course chocolate.
(Vapiano, KFC, etc).
But beyond these clichés, foodies can satisfy their tastes
Going forward, stiff competition from local and national
in all kinds of eateries, from genuine brasseries to
chains will remain. Lunch Garden, Exki, Guapa, Pain
international and fusion restaurants; from humble chip
Quotidien, Marcolini, Mamma Roma, Schievelavabo,
shops to renowned Michelin star restaurants.
Chez Léon are all well-established names in Brussels, all
There are numerous successful catering spots in brussels: of which originate in Belgium.
the Grand-Place, rue des Bouchers, the Halles Saint-
Being a city of gourmands, Brussels is always open to
Géry, place du Sablon, place Saint-Boniface, place du
new culinary ideas and concepts. Woké with its fast Asian
Châtelain, place Flagey, place Sainte-Catherine and the
concept, Eataly, the current independent burger trend and
neighborhood adjoining the University. Porte de Namur
the Brusselicious initiative (a food festival to promote the
(uptown) and rue Neuve (downtown) provide more casual
food and beverage sector in Brussels) all demonstrate the
chain restaurants and fast food.
welcoming and innovative spirit of the sector in Brussels.
Cushman & Wakefield | Brussels | 2019 6
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FOOD & BEVERAGE MARKET OVERVIEW
FOOD & BEVERAGE
KEY AREAS CONSUMER PROFILE
OPERATORS
Hard Rock Café, Häagen Dazs, Exki,
Grand Place (Historical area) Local Business density, tourists
Quick, etc.
Chez Lola, Le vieux Saint Martin,
Place du Grand Sablon Local Business density, tourists
Wittamer, etc.
Raconte moi des salades, La
Place du Châtelain Local & international trendy Quincaillerie, La chatelaine du Liban, le
Pain du Chatelain, etc.
Le Belga, Le bar du marché, Ellis
Place Flagey Local & international trendy
Gourmet Burger, Umamido, etc.
Le Rugbyman, Ellis Gourmet Burger,
Place Sainte-Catherine Local & international trendy
Noordzee, etc.
Cushman & Wakefield | Brussels | 2019 7
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RETAIL WAREHOUSING/ BIG BOX RETAIL
ZAVENTEM RETAIL PARK DROGENBOS RUE DE STALLE
This ex-IKEA site near the Sterrebeek exit of the E40- Typical Belgian cluster of retail warehouses that form a
motorway was redeveloped by Redevco into 7 shops major out-of-town retail cluster; this one is the most
totalling about 15,000 sqm GLA. expensive one of the southern periphery of Brussels.
There is another cluster like this in the southern periphery:
Together with a few other nearby retail clusters, and the
Chaussée de Mons Anderlecht/Sint-Pieters-Leew with
new larger IKEA, it is the most important out-of-town retail
major hypermarkets like Brico-Plan-It, IKEA, Makro and
cluster in the north-eastern side of Brussels.
Carrefour; in between these hypermarkets formed itself a
long cluster of other shops along the Chaussée de Mons
road to Halle.
RETAIL CONSUMER RETAILERS F&B AND TYPICAL RANGE
PARK PROFILE PRESENT LEISURE RENT FOR OF UNIT
TENANTS 1,000 SQM SIZES
UNIT
IKEA, Orchestra, Maxi-Toys,
Zaventem Mass market out- 700 - 3,000
Leen Bakker, Brico,AS Pizza Hut €170 sqm/ year
Retail park of-town shoppers sqm
Adventure
Drogenbos Sports Direct, Dreamland,
Mass market out- Pizza Hut, Quick, 700 - 3,000
Rue de X2O, Carrefour, Orchestra, €170 sqm/ year
of-town shoppers Lunch Garden sqm
Stalle Krëfel, Van den Borre
Cushman & Wakefield | Brussels | 2019 8JEAN BAHEUX Partner, Head of Retail Agency Belgium Avenue des Arts 56 Kunstlaan B-1000 Brussels , Belgium jean.baheux@cushwake.com Tel: +32 (0)2 546 08 61 Mob: +32 478 96 08 61 No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2019 Cushman & Wakefield LLP. All rights reserved.
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